NEWS RELEASE
GTA REALTORS® Report Mid-Month Resale Housing Market Figures
TORONTO, May 18, 2011 -- Greater Toronto REALTORS® reported 4,774 sales through the
TorontoMLS® during the first two weeks of May 2011. This result was two per cent lower than the May
2010 figure of 4,887.
“The strong sales reported for the first half of May reflect the positive economic outlook for the GTA. With
the number of jobs increasing and earnings growing, it makes sense that households remain confident in
their ability to purchase and pay for a home over the long term,” said Toronto Real Estate Board
President Bill Johnston.
The average selling price for the first 14 days of May was $486,223 – an increase of more than eight per
cent compared to the same period in 2010.
“The average home selling price has been growing at a faster rate over the last two months. This is not
surprising given that the number of homes available for sale has been down substantially in comparison
to 2010. Increased competition between buyers for available listings has prompted enhanced upward
pressure on home prices,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis.
Summary Of May Sales And Average Price

May 1st to May 14th, 2011
Average Price
Total
416
905
Total
2,392
0%
571
0%
732
1%
972
-10%

774,046
13%
537,907
7%
403,042
-1%
356,452
1%

534,666
9%
358,962
5%
341,667
11%
269,180
8%

606,020
10%
433,548
6%
359,191
7%
330,594
2%

Source: Toronto Real Estate Board

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-ofthe-art Multiple Listing Service. Serving over 31,000 Members in the Greater Toronto Area, the Toronto Real Estate Board
is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on
www.TorontoRealEstateBoard.com